While many of the largest American technology companies have seen substantial selling by their executives, GameStop (NYSE: GME), one of the most popular meme stock firms, witnessed its insiders move in the opposite direction in September.
The most recent such transaction was executed and disclosed on September 29, when the billionaire CEO Ryan Cohen bought 450,000 GME shares, worth a total of $10.5 million at the average purchase price of $23.48.
Notably, GameStop’s chief executive has made multiple such trades since September 10, adding a total of 2.6 million shares worth a combined total of approximately $57 million.
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Directors Lawrence Cheng, James Grube, and Alain Attal also participated in insider buying, though at a significantly smaller scale, purchasing roughly $1.7 million in GME between them.
Meanwhile, the uptick in such trading – and reversal since all previous 2026 activity involved selling the equity – came immediately after GameStop published an unexpectedly strong second-quarter (Q2) earnings report.
GameStop stock September rally flips GME green YTD
Within the filing, the company unveiled a record-breaking operating income, strong collectibles sales, and a large-scale investment in eBay (NASDAQ: EBAY) – a company Cohen famously attempted to acquire earlier this year.
Overall, the Q2 results sparked something of a renaissance for GME stock, leading to a 25% rally to its latest closing price of $23.76. The move simultaneously flipped GameStop shares back into the green year-to-date (YTD) following two steep drops in May and August.
Simultaneously, the quarterly filing and subsequent stock market performance led to the firm’s only recent rating by a prominent market analyst.
Specifically, the former hedge fund manager and TV personality, Jim Cramer, effectively issued a ‘Buy’ rating for GameStop stock on September 17, highlighting the company’s profitability and the management’s recovery plan.
Ultimately, the Mad Money host revealed he was ‘willing to say that stock is a buy’ and concluded that GME ‘actually works’ for him.
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